Former Insys CEO Pleads Guilty to Opioid Kickback Scheme

The former chief executive of Insys Therapeutics Inc (INSY.O) pleaded guilty on Wednesday to participating in a nationwide scheme to bribe doctors to prescribe an addictive opioid medication and has agreed to become a government witness.

…

Prosecutors allege that from 2012 to 2015, Kapoor, Babich and others conspired to pay doctors bribes in exchange for prescribing Subsys, an under-the-tongue fentanyl spray for managing severe pain in cancer patients.

Fentanyl is an opioid 100 times stronger than morphine.

Prosecutors said Insys paid doctors kickbacks in the form of fees to participate in speaker programs ostensibly meant to educate medical professionals about Subsys that were actually sham events.

Let’s see how any individual convictions and accompanying fines or jail time compare to those for street pushers, or perhaps everything will be covered under corporate cost-of-business expenses banking-style, no personal responsibility assigned.